The Reserve Bank today imposed penalties of Rs 1 lakh

Suresh Prasad (www.aubsp.com) (15630 Points)

22 February 2011  

 

The Reserve Bank today imposed penalties of Rs 1 lakh each on four cooperative banks on various charges  including violation of anti-money laundering guidelines.

 

The four banks are the Jamnagar Mahila Sahakari Bank, Amreli Nagarik Sahkari Bank, Shri Mahila Sewa Sahakari Bank, Ahmedabad, and the Virambam Mercantile Cooperative Bank, the RBI said in different statements.